Human Capital Management (HCM) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Human Capital Management (HCM) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Human Capital Management Market


The Human Capital Management market size was valued at USD 28.86 billion in 2023, and the market is now projected to grow from USD 31.34 billion in 2024 to USD 63.14 billion by 2032, exhibiting a CAGR of 9.1% during the forecast period of 2024-2032.

The COVID-19 pandemic created significant opportunities on the Human Capital Management growth as curbing coronavirus outbreak was prioritized. The Coronavirus pandemic significantly impacted pretty much every industry's functional design and strategy. The fast spread of the infection constrained states and business areas to follow different social separating and lockdown standards across nations. Therefore, organizations needed to take on telecommute techniques to guarantee business progression. Hence, carrying out these answers for remote workplaces across organizations might set out more than adequate market open doors before very long.

The Human Capital Management market share globally has been contributed due to the cloud computing. Cloud computing has consistently developed from a progressive IT way to deal with a significant corporate innovation. Cloud computing arrangements in HR tools urge associations to speed up worker commitment and experience by offering more extensive highlights that improve execution and ability the board functionalities. Numerous organizations are progressing from conventional human resources the executives’ frameworks to cloud-put together answers for save with respect to foundation and upkeep costs. As indicated by industry experts, around 60% of organizations are using cloud-based answers for undertakings, like enrollment, labor force the board, center HR, and finance and advantages. Worldwide partnerships that embrace unified worldwide finance frameworks can diminish work costs by around half by smoothing out processes, improving tasks, and executing mechanization. This permits HR supervisors to focus on additional vital obligations, eventually helping in general efficiency.

Furthermore, there’s been a notable trend of AI. Organizations habitually utilize arising innovations, for example, AI, to upgrade different ability matching cycles. These incorporate advancing position prerequisites, further developing candidate mastery, augmenting the obtainment pool, upgrading inward choice productivity, and eliminating fractional enlistment. These cycles are likewise helped by different devices, for example, video tests, social obtaining apparatuses, Chatbots, and prescient investigation, to test competitors that suit the job.

Comprehensive Analysis of Human Capital Management Market

The market development is supposed to be driven by the interest for people and performance management solutions, as well as the mix of trend setting innovations, like Robotic Process Automation (RPA) and AI into HR answers for mechanize HR exercises.

North America will probably hold the most extreme human resources the executives market share all through the conjecture period. This is because of the presence of remarkable sellers, like Ceridian HCM Holding Inc., Oracle Corporation, and IBM Corporation, among others, and significant interests in cloud applications. Cloud-based advancements are picking up speed worldwide as little firms are embracing cloud-based answers for setting out worthwhile business open doors.

The top players in the market play a crucial role in the human capital management assuring industrial prospectus growth and setting market standards. These players include, SAP SE (Germany), Automatic Data Processing (ADP), Inc. (U.S.), Oracle Corporation (U.S.), Microsoft Corporation (U.S.), Cornerstone OnDemand, Inc. (U.S.) and Ceridian HCM, Inc. (U.S.) these market players provide a level-playing competitive landscape.

In December 2023, Workday and Kainos collaborated to present ""Spark&Grow"", another answer for help little and medium-sized organizations in carrying out Typical business day effectively. Kainos will deal with the organization of Normal business day HCM and Working day Monetary Administration in only a month, giving master direction and backing en route.

Segmentation Table

Human Capital Management Market Scope

Study Period 2019-2032

Base Year 2023

Forecast Period 2024-2032

Growth Rate CAGR of9.1% from 2024-2032

Historical Period 2019-2022

Unit Value (USD Billion)

Segmentation By Type, End-User, and Region

By Type Large Enterprises

Small and Medium-sized Enterprises

By End-User

IT & Telecommunication

BFSI

Government

Retail

Healthcare

Education

Manufacturing

Others (Transportation & Logistics, Energy & Utilities)

By Region North America (By Type, End-User, and Country)

-U.S. (By Type and End-User)

-Canada (By Type and End-User)

Europe (By Type, End-User, and Country/Sub-region)

-U.K. (By Type and End-User)

-Germany (By Type and End-User)

-France (By Type and End-User)

-Italy (By Type and End-User)

-Spain (By Type and End-User)

-Rest of Europe (By Type and End-User)

Asia Pacific (By Type, End-User, and Country/Sub-region)

-China (By Type and End-User)

-Japan (By Type and End-User)

-India (By Type and End-User)

-Australia (By Type and End-User)

-Rest of Asia Pacific (By Type and End-User)

Latin America (By Type, End-User, and Country/Sub-region)

-Brazil (By Type and End-User)

-Mexico (By Type and End-User)

-Rest of Latin America (By Type and End-User)

Middle East & Africa (By Type, End-User, and Country/ Sub-region)

-GCC (By Type and End-User)

-South Africa (By Type and End-User)

-Rest of Middle East & Africa (By Type and End-User)